NIKKEI 225 (NKY) 2 Day Up Streak Snapped, in an Uptrend Over Past 90 Days; Doji Pattern Appearing on Chart

The Hourly View for NKY

Last Updated December 28, 2020, 02:019 GMT

Currently, NIKKEI 225’s price is up 10.01 (0.04%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as NIKKEI 225 has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

NIKKEI 225 Daily Price Recap

The choppiness in the recent daily price action of NIKKEI 225 continues; to start today, it came in at a price of 26656.61 US dollars, down 0.04% (11.74) since yesterday. Relative to other instruments in the equity indices asset class, NIKKEI 225 ranked 12th since yesterday in terms of percentage price change. Here is a daily price chart of NIKKEI 225.

NKY

NIKKEI 225 Technical Analysis

Volatility for NIKKEI 225 has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 14 days NIKKEI 225’s price has gone down 8 them. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!